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Earnings Per Share
 9 Months Ended
Jan. 25, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic earnings per share is computed based on the weighted average number of common shares outstanding. Diluted earnings per share is computed based on the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan.
The table below sets forth the computation of basic and diluted earnings per share:
 
Three months ended
 
Nine months ended
(in millions, except per share data)
January 25,
2013
 
January 27,
2012
 
January 25,
2013
 
January 27,
2012
Numerator:
 

 
 

 
 

 
 

Earnings from continuing operations
$
988

 
$
845

 
$
2,498

 
$
2,527

Earnings from discontinued operations
—

 
90

 
—

 
99

Net earnings
$
988

 
$
935

 
$
2,498

 
$
2,626

Denominator:
 

 
 

 
 

 
 

Basic – weighted average shares outstanding
1,012.5

 
1,054.4

 
1,020.7

 
1,058.5

Effect of dilutive securities:
 

 
 

 
 

 
 

Employee stock options
3.0

 
0.8

 
2.3

 
0.7

Employee restricted stock units
5.4

 
4.8

 
5.6

 
4.7

Other
0.1

 
0.2

 
0.1

 
0.2

Diluted – weighted average shares outstanding
1,021.0

 
1,060.2

 
1,028.7

 
1,064.1

Basic earnings per share:
 

 
 

 
 

 
 

Earnings from continuing operations
$
0.98

 
$
0.80

 
$
2.45

 
$
2.39

Earnings from discontinued operations
$
—

 
$
0.09

 
$
—

 
$
0.09

Net earnings
$
0.98

 
$
0.89

 
$
2.45

 
$
2.48

Diluted earnings per share:
 

 
 

 
 

 
 

Earnings from continuing operations
$
0.97

 
$
0.80

 
$
2.43

 
$
2.37

Earnings from discontinued operations
$
—

 
$
0.08

 
$
—

 
$
0.09

Net earnings*
$
0.97

 
$
0.88

 
$
2.43

 
$
2.47


* - All earnings per share amounts have been rounded to the nearest $0.01, and therefore, may not sum.
The calculation of weighted average diluted shares outstanding excludes options for approximately 40 million shares of common stock for both the three and nine months ended January 25, 2013, and approximately 53 million shares of common stock for both the three and nine months ended January 27, 2012, because their effect would be anti-dilutive on the Company’s earnings per share. For the three and nine months ended January 25, 2013 and January 27, 2012, common share equivalents related to the Company’s $2.200 billion of 2013 Senior Convertible Notes were anti-dilutive as the market price of the Company’s stock was below the conversion price of the 2013 Senior Convertible Notes and, therefore, were excluded from the calculation of weighted average diluted shares.